tv Bloomberg Markets Americas Bloomberg April 7, 2017 12:30pm-1:01pm EDT
>> you are looking at a beautiful sunny midtown manhattan from new york city. this is bloomberg markets. let's get straight to abigail doolittle. we want to check in for market reaction. a lot of news. we had the missile attack on syria and a lot of uncertainty for investors to deal with. an intraday chart of the s&p 500. small whip saws. not a lot of convection -- lot of conviction. treading water to some degree. has been a haven bid on all of this. we have bank of america. let's take a look at the defense contractors.
all rallying after that missile attack on syria. investors are thinking perhaps these companies will stand to benefit. the question is whether the corporate outlook will improve. this could be a knee-jerk reaction. let's take a look at the 10 year the yen, gold,h and vix. at one point closer to two point 26%. we have the yen rallying today. gold higher by 1%, the best rally of april. of a risk despite the fact the equity markets overall are a little bit flat. now taking a look at the banks. thinking investors that will perhaps hurt the lending activities.
filing the worst for the bank since march. a look at btv 71218. this is the banking etf. we have taken a look at this before. it is a compilation of a lot of technical indicators. there could be some more downside for the banks. he thinks there is a bear market ahead for the banks. something to keep an eye on for sure. >> the u.s. launched dozens of missiles at syria after accusing the regime of killing its own civilians with poison gas. the decision to attack marks a reversal from president trump.
joining us now from palm beach is chief washington correspondent kevin cirilli and. -- and we are getting headlines from the security meeting saying military means will not work in syria. obviously china is coming out against this. any impression it may be discussed by the two leaders? >> china official saying they would prefer a more political approach from the united states to syria. that response differs significantly from our european allies. folks on both parties saying they hope that he would you present -- he would present a plan to congress, also agreeing this was a measured and appropriate response. quart fromring up a
-- who told the russian state media organization that putin syria asair strike on aggression against a sovereign state and violation of the norms of international law. the headlines we are seeing compared to the statements being put forth out of the russians are different. this is the first illustration of a different and policy president trump and vladimir putin. >> we have talks about trade, about currency, there are some in a question surrounding this, are they getting any actual work done? >> we just heard from the
presidents who both said this was a productive meeting. president trump said a lot of progress had been made but we don't know exactly what policy specifics were hammered out at this meeting. syria did overshadow a very large portion of this summit. this timeline was on monday of this week when all of this came. last night president trump command in order of syria. >> kevin cirilli in palm beach for us there. to be a strikes appear single targeted attack and the big question is now what? let's go to former defense secretary william cohen, now chairman of the cowen group. is this a change in u.s. foreign-policy? >> i think it is.
aesident trump campaign on basis that we are going to have america first policy. going to beally building our infrastructure backup. even though we don't like what is going on with the world, the world is not going to walk away from us. change, it iss a a positive change. we can't simply become isolationists. retrench --ley simply retrench. most of the time that international response will be led by the united states. president continue to strike at syria doesn't back down.
russia appears to be backed into a corner. putin doesn't like being in this position. >> we reach out to russia but on the basis that we are willing to do business with you. at a time when they destabilize ukraine in violation of international law. that we are violating international law and be accused of doing so, i think that we want to have a better relationship but we can't do it on their terms. >> why did president trump the site do this? clearly photographs came out this week and it was a terrible attack. several occasions in the last several years -- and yet when
the chinese president there, and in potential for conflict north korea as well, is there any timing issue? time --'t think it was timedo deliberately -- deliberately. in china for about 10 days a couple of weeks ago. chinese want to do business with the united states. especially on trade. understand we cannot sit back i delete and let kim jong own to develop missile technology and nuclear weapons that will one day have the capability of striking the united states. the message was we mean what we say. so president, will you work with us so we can persuade either kim regime to change its
course or we work together to find a different regime? that would be the message that i would hope was conveyed. best guest beyour for this conflict surrounding syria? do the russian government decide to do something? >> i think the russian government should be sufficiently embarrassed. they claimed they would eliminate all the chemical weapons held by the sharp al-assad. frankly there is circumstantial evidence that would indicate they knew that the gas would be loaded on those planes. i think the russians have a lot and this will be brought before the un security council and ought to be debated. they would say president putin udy to do a lot with your clients.
we will see what bashar al-assad decides to do. >> what would happen if the sod where to step down as a result of u.s. pressure. >> there has to be a brokered peace. it is clear as long as he is in office there won't be one. we will continue to see more play out with thousands injured, 5 million displaced. this is not going to be resolved by bombs or bullets. hopefully including the russians. chemical weapons, sarin gas is not something we can allow any nation to use, no matter where they are or where they are located. >> thank you p that is former secretary of defense and chairman of the cowen group. let's get a check on bloomberg
first word news. mark: syrian president bashar al-assad is condemning u.s. missile strikes on a syrian military airbase, calling them and unjust and arrogant aggression. president assad warned the move would only increase his toernments determination crush militant groups in syria. turkish president reach up a concreted it was step but it was not enough. president erdogan said the u.s. has made positive initiatives in syria and that turkey supports all efforts to ensure the safety of the syrian people. neil gorsuch was confirmed to the supreme court. yesterday republicans lowered
the number of those needed to advance the supreme court nominee to a simple majority from 60 votes after democrats succeeded in blocking judge gorsuch. says he hasell reached out to former republican presidential nominee mitt romney about possibly running for the senate if a vacancy opens in utah. senator orrin hatch has not decided whether to run again. journal says if he can get romney to run he may step aside. senator mcconnell says he would support hatch if he wants to run again. romney said he would only run with hatch's blessing. by 2600ews powered journalists and analysts in over 120 countries. this is bloomberg. >> coming up bring you an exclusive interview on the company's big fda win.
>> this is bloomberg markets. time now for our latest bloomberg business flash and some of the biggest stories in the news. minneapolis -- the ceo of jpmorgan is being called out for saying the two big to fail banking problem has not been solved. >> our job is to call risk where we see them and propose solutions. i know jamie dimon and i like him and respect him. things that are incorrect i think it is our responsibility to speak out.
the fact is too big to fail has not been solved. the biggest banks are still too big to fail. offered them potential solutions in the form of substantially higher capital requirements. >> wells fargo shareholders are being urged by institutional shareholder services to break up. investors were told to vote for just three yield votes. it says the board failed to and sufficient risk oversight the may reduce the damage to customers. calling the recommendations extreme. that is your latest bloomberg business flash. testing startup has cleared a major hurdle with the fda. greenlight given the to sell his gene testing kit to consumers, becoming the first and only company to provide such
reports without a description. the turnaround which imposed a moratorium on these types of home testing kits, caroline hyde joins us from san francisco for more. have a wonderful interview with the ceo and cofounder of 23 and me. congratulations. the us a little bit about significance of this particular decision today. think it is spectacular for consumers and obviously for the company. missions has always been to carve out this consumer health care space. i think it is important more and more for health care to be affordable and accessible to consumers. part of why we fought to get a direct consumer clearance and why we stuck it out is because
we believe direct access for consumers is important. >> what were the hurdles that needed to be jumped through? was it education? is it the reliability of the testing? approveda wanted us to two points. making sure the data is accurate, so we know that the quality of that is reproducible, and the second thing we really had to go improve was the comprehension, and go around the country, who that all different education levels could understand this eight a. have this belief that anyone andlearn about themselves that science is within the reach of anyone. the product and experience of that anyone at any education the can understand
this information. >> it is 10 conditions that have been granted thus far. be adding to them? >> we will definitely be adding to them. that is the whole process and experience. we want to keep consumers up to date. focus on parkinson's and alzheimer's because those are .he two most commonly requested one thing people don't realize is the medical system doesn't have those because you can talk about whether or not you can do anything, is very clinical intervention. want thisreally information because they may be making a lifestyle change. >> they have been seeking information for other things prior to this. they have been able to find out ancestry history. and also what their children may be inheriting.
can you find out what the reliability is in terms of the tech conditions? it is for customers on an existing clear platform. for customers who are on a willxisting platform, they enable in some capacity some way to upgrade to it. they will get these reports. are making everyone a scientist come as you say. i we expecting people to run up to their doctors because they have certain significant marks bush or to these connecticut -- these genetic conditions or can they show that they are perhaps far safer than the million head -- million had anticipated? >> there are a lot of aspects of
health care that don't necessarily tap into the traditional health care system. more of what we find his people are at risk for something and they want to make lifestyle changes. they may want to start exercising more, they may want to change their diet. coach ofwant to have a sorts. what we found come and we did the studies in the u k, people aren't running to their physicians to ask more questions. some of them do bring it up on their next scheduled physician appointment, but it is not generating more visits for physicians. people want to make lifestyle changes, and at that is -- and that is where i think people want to make opportunity. where consumers are thing about their health care not episodically when they go to the doctor, but they are thinking every day about what my eating, what my doing, what are the choices i am making? we think more and more about the retail world and daily experience and other online companies, those are going to
make some of the behavior changes we know customers want to make. >> are they going to be providing the coaching as well? >> we provide links to individuals. isl we see in our expertise genetics and making it clear for individuals, the information and risk they have. ofwant to enable all kind companies to help customers take it to the next level and execute in that way. >> what about the reach of your own business? using the data and this is a key question, what the privacy angle is. that always comes bringing to mind. is you confirm how the data used and how the data may push forward research in certain diseases? >> data privacy has always been first to us. if you want to share your data with no one you share with no one.
privacy is a huge priority for us. people with a specific disease often want us partnersearch and our to do research with other companies. people have the ability to opt into that. over 85% of our customers are opting into that research. the mission of the companies to help people access, understand, and benefit from the human genome. we have over 2 million individuals today. largestprobably the genetic database in the world. who has been to the doctor has suffered from the experience of not necessarily knowing what is the best path forward. we may or may not know exactly what you should do. that is something we are hoping to solve with all this
information, helping individuals have personalized health care and treatments. great having you join us live on bloomberg television. the cofounder of 23 and me. it has been a wonderful conversation. to you in new york. vonnie: thank you for that interview. today's jobs report sent mixed messages to the economy. new jobs, which is significantly below the 180,000 consensus estimates. here it break it down is michael mckee, international economic correspondent. spoiled, did we forget there is a margin of error here and it could be as many as 100,000 jobs? michael: this is one of the reports economists love but investors hate because there's no clear direction to place their bets. the 98,000 jobs created isn't a real surprise if you think of it in terms of the 100,000 range
that the jobs report has. what we are seeing is perhaps a bit of a slowdown because we are getting late in the economic cycle and companies don't need to hire as many people. be seeing at this point some statistical noise. we will have to wait and see how this plays out. the unemployment rate falls for the right reason. more people get hired. does it give president donald trump the right to continue to talk about how the economy needs to create jobs and he is going to bring more jobs to the economy? >> politicians can spin these anyway they want. the two sides could have exchanged press releases. there is still some slack in the
labor market that could be filled. adopt the right policies they may be able to get more people some jobs. milliony not the 100 trump seems to claim are unemployed and looking for work. 100,000 to 200,000 jobs per month. vonnie: do you think the unemployed came down by 3/10 of 1%, that has to be good news. michael: part-time workers getting jobs. all in all, in general a favorable report. economicnternational correspondent from washington dc. coming up, this is bloomberg. ♪
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office. strikes on syria -- president trump bombing the russian backed forces of syria's bashar al-assad for the first time. russian president vladimir putin condemning that attack as, quote, "asn act of aggression." the strikes on syria overshadowing president trump's second day of meetings with president xi jinping. we will have the latest from mar-a-lago. u.s. payroll gains slowed in march while the jobless rate unexpectedly dropped to the lowest in almost a decade, suggesting the labor market is returning to a more sustainable pace of progress. i will discuss the latest jobs report with the former director of the national economic council.